EP UK Investments Ltd to acquire Lynemouth Power Limited from RWE Supply & Trading GMBH

PRAHA, 11-1-2016 — /EuropaWire/ — EP UK Investments Ltd (EP UK), a subsidiary of Energetický a průmyslový holding (“EPH”), a leading Central European energy group which owns the 2GW Eggborough Power Station, are pleased to announce that agreement has been reached on the purchase of Lynemouth Power Limited (Lynemouth Power) from RWE Supply & Trading GMBH.

Historically Lynemouth Power was a 420 MW coal fired station that has been working with contractors to design a technical solution for full conversion of the power plant to run on biomass. Lynemouth Power received clearance from the EU on 1st December 2015 for its supporting Contract for Difference from the UK government. Post conversion the station will generate about 2.3 TWh of low carbon electricity per year which is sufficient to power around 700,000 homes or a city the size of Sheffield. The plant will operate at base-load, thus providing schedulable low-carbon electricity.

Neil O’Hara at EP UK said: “We are pleased that EPH has made this investment and look forward to working closely with the Lynemouth Power team and its contractors to reach final investment decision. Whilst we are working under tight time constraints and challenging foreign exchange conditions we believe that with the continuing efforts of the Lynemouth team and the on-going support of the contractors the business will achieve its ambitions.”

CONTACT FOR THE MEDIA

Daniel Častvaj
Director of Communications and Marketing

e-mail: castvaj@epholding.cz
tel.: +420 604 211 864

SOURCE: Energetický a průmyslový holding